BlackRock Reportedly Plans to Acquire 10% of Circle’s IPO
BlackRock is said to be eyeing a 10% stake in Circle’s upcoming IPO, which could raise up to $624 million, according to Bloomberg.
Circle is the issuer behind USDC, the second-largest stablecoin. BlackRock already manages 90% of USDC’s reserves through a government money market fund, currently holding $30B in net assets.
Cathie Wood’s Ark Invest is also expected to participate with a $150 million stake.
The IPO is reportedly oversubscribed ahead of its June 4 pricing. If confirmed, this would mark a deeper link between traditional finance giants and crypto-native infrastructure.
